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Updated 11 months ago on . Most recent reply
Texas Franchise Tax Question
Hello, my question is in regards to Texas Franchise Tax:
I formed my LLC in 2023, as a Series LLS (4 properties), Is all rent received from the 4 rentals added together and submitted as one business income or is it broke out individually and filed by each rental?
Thank your
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
Quote from @Stacie Wooten:
Hello, my question is in regards to Texas Franchise Tax:
I formed my LLC in 2023, as a Series LLS (4 properties), Is all rent received from the 4 rentals added together and submitted as one business income or is it broke out individually and filed by each rental?
It's added together, however it doesn't matter anyway, because there is no tax and no reporting on your LLC, except for the ownership report known as PIR - Public Information Report